“The summer of the Union Jack” sent customers flooding into fast-fashion chain Primark and helped owner Associated British Foods push profits past the £1 billion mark for the first time, chief executive George Weston said today.

The chain — whose performance contrasts with the struggles of upmarket rival Marks & Spencer — sold more than 7.5 million items emblazoned with the national flag during the summer, as shoppers made a dash for patriotic fashion for the Jubilee and Olympics, the firm said.

“It was the summer of the union jack,” said Weston. “My daughter bought a onesey, and I think I bought a shirt and a belt with a union jack on. It was a fashion statement, it was fantastic. Primark is a particularly good place to go to if you’ve got a celebration but you don’t want to spend too much money.”

Primark’s austerity shopping offer goes shows little sign of losing its appeal, with the average customer spending £17 on four and half items.

Its profits rose 15% to £356 million in the year to September 15, on sales which have doubled to £3.5 billion in the past five years. This — plus a great year from its sugar business — helped drive ABF’s overall benchmark profits up 17% to £1.08 billion. The dividend is also up 15% to 28.5p.

With the critical festive season looming, Weston is upbeat about prospects: “The autumn and winter ranges were well received and I’m confident about Christmas, although I don’t think there’s going to be a consumer boom.”

Management is also considering further expansion of the chain in the UK, where it has 157 of its 249 stores.

“Certainly I don’t think that 200 is impossible but there is also the possibility of extending existing stores as well,” Weston said.

Investec analyst Martin Deboo said: “2012 has been an annus mirabilis for ABF.”

The group now has sales of £12.3 billion as well as 106,000 employees in 47 countries.